KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No 853/2016 on March 2, 2018, it is learnt.
Director General Surriya Butt said the department was reviewing suggestions from importers to set new prices of plastic powder. She said some valuations, issued in 2015 and 2016, were being reviewed from the beginning.
Moreover, the valuations will be set in view of rising prices in the international markets. Sources told CT that a petition was filed by the importers in the Customs Valuation in which change in prices of plastic powder was requested.
Sources said the Valuation Ruling No 853/2016 was issued on May 16, 2016. A meeting was held with the stakeholders on January 16.
Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.